Nashville Home Prices Affected By Distressed Sales

According to the March Home Price Index by CoreLogic,  home prices across the nation have dropped for the eighth straight month.  Home Sale Prices were down 7.5% in March 2011 as compared to March 2010, and this was preceded by a 5.8% drop in February.   It is interesting to note that the year over year price decreases declined only 0.96% in March 2011 when you remove all of the distressed sales.  Distressed sales in this report includes both short sales and bank-owned properties(REOs). 

The average year over year price drop in Tennessee for March 2011 was 2.8%.  When all of the distressed homes were removed from the Tennessee sales, the average price drop in March 2011 was only 0.8%.   Tennessee has also declined for eight straight months, ranging from 2.77% - 4.21% per month.  Over the long-term, Tennessee Home Prices have decreased twenty-three out of the last twenty-four months. 

CoreLogic is a leading  provider of information, analytics and business services.

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